(Bloomberg) — A stronger-than-expected fixing was enough to steady the yuan after increasing U.S.-China tensions sent the offshore rate toward a record low.The offshore yuan traded steady at 7.1809 a dollar as of 10:33 a.m. in Hong Kong after the People’s Bank of China set its fixing at 7.1277. While that was just slightly stronger than forecast, traders took it as a sign that the central bank would want to avoid the rapid depreciation. The onshore rate, which is nearing its weakest since 2008, was also little changed.The exchange rate has become a focus of political sparring between Washington and …read more
Source:: Yahoo Finance
